Blockchain Technology: Analysis of Formal Scams and Real Value Since its inception, blockchain technology has been hailed as a revolutionary force capable of solving many real-world problems. However, after years of development, apart from the cryptocurrency field, the landing and application of blockchain technology in other fields have become increasingly difficult. This article aims to deeply analyze the misconceptions and scams in the current development of blockchain technology, and explore how to return to its true value. The dilemma of formal systems: hollow mathematical logic The current mainstream blockchain technology is mostly trapped in formal systems of mathematical logic symbols. This formal system deliberately eliminates the concept of "self reference" in order to pursue deterministic causal logic, thus avoiding the attack of the "liar paradox". However, the meaning, civilization, and values of humanity stem precisely from the 'self'. Removing the formal system of 'self' is essentially hollow and meaningless. This formalized blockchain technology cannot solve meaningful and valuable problems in the real world. Races such as RWA (Real World Assets) only use blockchain platforms as a more consistent cloud server tool. G ö del's incompleteness theorem has already revealed the limitations of formal systems. An incomplete formal blockchain platform cannot withstand the complexity and diversity of the real world. Centralization Paradox: The Essence of BFT Consensus Many current blockchain technologies claim decentralization, but adopt a mechanism based on BFT (Byzantine Fault Tolerant) consensus. This mechanism achieves 100% certainty through strongly consistent formal mathematical logic. However, the POS nodes involved in BFT verification rely on centralized communication. The more one pursues fast confirmation of BFT consensus, the higher the degree of centralization. This formal system of "removing self referential" also leads to the closed nature of blockchain virtual machines (VMs). VMs on various blockchain platforms may seem capable of performing formal mathematical calculations, but they lack practical significance. For example, the meaninglessness of tokens lies in their lack of "self" and can only perform formal addition and subtraction operations. Consensus of Satoshi Nakamoto: Returning to the completeness of self reference Unlike the formal BFT consensus, Bitcoin's Satoshi Nakamoto consensus does not attempt to solve consistency problems with mathematical logic, but instead incorporates all the facts in the "liar paradox" through the intuitive logic of constructing self referential recursive systems. This undecidable probabilistic consensus of Satoshi Nakamoto is complete. Mr. Dongguo and G ö del: The Value of Observers The story of "filling in the numbers with a bamboo flute" tells us that solving the "liar paradox" or a system that includes a self referential framework requires the introduction of observers to intuitively assess authenticity. G ö del's AI logic also emphasizes the role of observers. The solution to the problem of "filling the number with a bamboo flute" and the problem of incompleteness in the formal system of mathematical logic are essentially the same answer. Bitcoin: a paradigm of self referential recursion People misunderstand that Bitcoin is a blockchain technology. In fact, Bitcoin only uses the names Block and Chain in its code, and it does not adopt formal blockchain technology based on quantitative logic. Bitcoin has achieved its own meaning by solving the problem of 'filling in numbers' by constructing self referential recursive loops. When a miner mines a new block, they do not know if they are on the longest chain and need to broadcast and seek third-party miners to verify their status. This observer mode makes Bitcoin consensus an undecidable probabilistic consensus. Satoshi Nakamoto cleverly utilized the observer mode to make Bitcoin consensus an undecidable probabilistic consensus, without pursuing meaningless formal deterministic consensus, but instead becoming meaningful undecidable consensus. The authenticity of Bitcoin also comes from this. Say goodbye to formalism and embrace true value The mathematical logic formalism of blockchain technology has hindered the development of the industry for too long. We should draw wisdom from the stories of "filling the number with a bamboo flute", G ö del's incompleteness theorem, Hou Shida's GEB, and Satoshi Nakamoto's Bitcoin, return to the essence of blockchain technology, and build a truly meaningful and valuable new cryptocurrency industry. We should say goodbye to formal blockchain technology and embrace a new era of cryptocurrency with real value.